When Trading Alternative coins, be careful of delistings

There are now over 315 Alternative coins, and buying/Selling them on the many different exchanges can be fun, its not nice but sometimes coins are removed from the market, the number can be crazy and in the past $100- worth of BTC could buy you say 15 Million Volt coin like I did, but I believe that coin is now removed from the market, its gone from the exchange I used to purchased it.

When the market cap is very low for any coins like say $5,000- there are very high risks that coin will be removed from the market or exchanges start to delist these coins due to slow or little trading of these coins.

I had a coin that was delisted which caught me off guard, because we all like to think we are in control of our investments and progress of the coins, luckily this exchange let me transfer out, but it took 1 week to transfer, (the mindset I like to have even if its a small value in coins, all are valuable!, because its the one you let slip could be the one worth be $$$ in the future, so know were all your coins are, because as you build a portfolio trading, the volume and number of different coins can grow.)

I also use the free alexa toolbar to watch the traffic to coin websites and exchanges, the statistics show traffic from countries etc, if the coin grows you can see it expand across the globe.

As you can imagine coins can go into a free fall in trading due to loss of confidence from the market, a bad news story online and other can have big implications for new coins and others.

At one point I decided to jump out of 3 exchanges due to bad press and information on blogs which can be ahead of the market, I moved then 2 of those exchanges fell apart, people lost a lot of BTC, sometimes whistle-blowers who worked for these companies exposure the truths before it goes down and your coins are gone to the “bad actors”.

So investing in alternative coins requires constant research and being as up to date as you can, Google key word alerts are very good, receiving an email with fresh links each day from all over the world.

About the author

I am a Carpenter By Trade and a Ex-Sapper in the Australian Army Reserve, inventor of the Roofing Protractor, Stair Square and Chalkine Protractor, father of 4 children and married, living in Melbourne
also as of May 2013, a Crypto-currency trader, Alternative coins Trader, from 2000 to 2002 I day traded trades shares in the Australian Market, combined with my inventor skills, Military training my perspective can be quite different and methods.
I am a keen cyclist, bush-walker, play station 1,2,3 games player, past, soccer, volleyball, tennis, hockey.

2 comments

some countries are restricted and Iceland and Vietnam look like bit-coin is banned, India looks to be restricted,I find it interesting how many countries are cautious about making a clear statement about bit-coin, because they all know the only way to stop bit-coin is to turn the internet OFF and that’s not going to happen, I read the US Federal Reserves comments, basically its out of their jurisdiction and they cannot regulate it,because of being peer to peer and decentralized,